Correlation
The correlation between ^NDXT and SQQQ is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
^NDXT vs. SQQQ
Compare and contrast key facts about NASDAQ 100 Technology Sector Index (^NDXT) and ProShares UltraPro Short QQQ (SQQQ).
SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^NDXT or SQQQ.
Performance
^NDXT vs. SQQQ - Performance Comparison
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Key characteristics
^NDXT:
0.11
SQQQ:
-0.64
^NDXT:
0.25
SQQQ:
-0.56
^NDXT:
1.03
SQQQ:
0.93
^NDXT:
0.01
SQQQ:
-0.46
^NDXT:
0.04
SQQQ:
-1.35
^NDXT:
9.89%
SQQQ:
33.85%
^NDXT:
32.98%
SQQQ:
75.99%
^NDXT:
-59.34%
SQQQ:
-100.00%
^NDXT:
-8.29%
SQQQ:
-100.00%
Returns By Period
In the year-to-date period, ^NDXT achieves a 2.93% return, which is significantly higher than SQQQ's -22.68% return. Over the past 10 years, ^NDXT has outperformed SQQQ with an annualized return of 15.75%, while SQQQ has yielded a comparatively lower -52.21% annualized return.
^NDXT
2.93%
8.28%
-1.40%
4.45%
14.50%
13.47%
15.75%
SQQQ
-22.68%
-20.93%
-24.08%
-48.67%
-51.05%
-52.75%
-52.21%
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Risk-Adjusted Performance
^NDXT vs. SQQQ — Risk-Adjusted Performance Rank
^NDXT
SQQQ
^NDXT vs. SQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Technology Sector Index (^NDXT) and ProShares UltraPro Short QQQ (SQQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Drawdowns
^NDXT vs. SQQQ - Drawdown Comparison
The maximum ^NDXT drawdown since its inception was -59.34%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for ^NDXT and SQQQ.
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Volatility
^NDXT vs. SQQQ - Volatility Comparison
The current volatility for NASDAQ 100 Technology Sector Index (^NDXT) is 7.23%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 17.59%. This indicates that ^NDXT experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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